By Life in South Africa is proving to be more expensive by the day with electricity and fuel prices increasing neck on neck. Given global factors and despite the improved performance of the Rand against the US Dollar, the Minister for Mineral Resources and Energy Mr Gwede Mantashe announced an increase on fuel prices.
According to Minister Mantashe, the crude oil market was volatile during the period under review, which saw prices increase from 82. 50 US Dollar (USD) to 84. 22 US Dollar per barrel. The attack on Russian refineries by its rival Ukraine also poses a threat of supply to the world and South Africa.
Though over 10. 00 cents per litre was cut off on Basic Fuel prices of all products attributed to the appreciation of the Rand to the USD which traded from 19. 20 to 18. 04 Rand per USD under the period in review, the increase on fuel still is heavy on consumers.
Based on current local and international factors, the fuel prices for April 2024 will be adjusted as follows:
Petrol (93 ULP & LRP): Sixty-five cents per litre (65.00 c/l) increase.
Petrol (95 ULP & LRP): Sixty-seven cents per litre (67.00 c/l) increase.
Diesel (0.05% sulphur): Three point two two cents per litre (3.22 c/l) increase.
Diesel (0.005% sulphur): One point seven eight cents per litre (1.78 c/l) decrease.
Illuminating Paraffin (wholesale): Twenty-nine cents per litre (29.00 c/l) decrease.
SMNRP for IP: Fifty-eight cents per litre (58.00 c/l) decrease.
Maximum LPGas Retail Price: Nineteen cents per litre (19.00 c/kg) decrease
